New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-11-07
MONEY ND EININESS


The loss Of bank reserves, about - 900. 900.
at Il time when the Treasury has put out in a
week ~ 100000 cash more than it has taken
IN, cxcitcs some remark Yet it is but the
natural result Of fact which was we'll known.
hat the movement Of currency to the interior
has not Ceased although the month Of October
las ended. Return Of money from some
quarters is noticed. but it is not as large aS
usual and meanwhile the demand from other
quarters seem to have no end. The bank
,tatcmcnt showed u surplus large enough for
he season. If the interior demand is not to be
indefinitely extended but Che supply from
abroad has ceased so that the continuing ont go
IS noticed as it was not three weeks ago. EX-
ports Of cotton continue remarkably large, IN
October 79l,2O2 bales against 579.2l5 last
YEAR and though the bates are slightly smaller,
he price averages 3 per cent higher than last
wear. On the other hand, brcadStullS have
pccn falling off. and for four weeks the exports
from Atlantic ports were but 100000 against
100000 bushels OF wheat last year, and
800 900 against $500 600 bushels Of corn.
Tho increase Of 200 900 barrels of flour partly
compcnsatcs for the loss in wheat, but other
items also decrease; in September exports Of
against Sl,179.070 in the same month last
ear, and exports Of tobacco also decreased
$500 900
The largo increase in cotton exports being
thus partly ncutrazcd, it is likely that the
aggregate gain since October | may not be
greater than at NcwYorI, so that the excess
# exports over imports for October may not
exceed about S11,OOO.OOO. Dcductlng the
usual allowance for INTERPRETATIONS and IN
crest, il would appear that net imports OF
$4,000 900 specie at Ncw-Iork may imply
a movement Of only $5.OO0,OOO foreign capital
to this country. against S23OOO,OOO IN sep
,cmbcr and S26,O0O,O 900 in August. For
about two weeks this source Of supply has
nus been closed, and the Treasury meanwhile
vouId have Withdrawn considerable money
from circulation had not its deposits in banks
increased 81 ,37G,252 last week, and So 191,l9S
the previous week.
Stocks advanced an average of 81 AZ per
share during the week, closing slightly above
he level Of October s. Tho increase in the
PENNSYLVANIA dividend was questioned only
,ecauso late gains in earnings have been moro
,han balanced by the increase in expenses but
IL was soon stated that there had previously
accrued a sufficient balance, and President
nobcrts took occasion to announce that it was
not intended to establish any precedent for the
payment Of dividends hereafter unless the
mount required should be earned. Eastern
trunk lines doubtless have Jared better than
Western roads In regions where new lines havo
oeen greatly extended. and the reports about
Granger agreements continue very contra
dictory. Several interstate decisions looking
coward lower rates for transportation increase
Tho impression that railroad building will be
less actively pushed next year.
This sulliccs to explain sales Of steel rails to
New England and Northwestern companies at
S32 at mill. Other kinds of iron and steel are
weaker In tone architectural iron, because the
building incident to real estate activity Is
likely to pause No. pig iron from tho South
. said to DO offered at $40 Tslings Of cotton
by spinners have for two months exceeded